February 18th,2022, Huitongda Network Co., Ltd. ("Huitongda" or the “Company”, HKEX: 9878) had officially listed on the main board of Hong Kong Exchanges and Clearing Limited (HKEX) today, successfully going public in Hong Kong. The Company issued 51,606,200 shares (excluding the over-allotment options) in the initial public offering (IPO), with price of HK$ 43.00. 6 well-known investors become the cornerstone investors, including Sense Time and Greenwoods etc.

Huitongda was founded in 2010 and is committed to providing comprehensive online and offline supply chain solutions, stores SaaS+ service and merchant solutions for the retail industry chain participants through business model innovation and digitalizaiton capabilities. At the end of 2017, Asia Green Fund (AGF) exclusively lead the C round investment to Huitongda, helped the company to build a mission of “green wisdom village”.

"It takes more than 10 years for Huitongda to become China's largest trading and service platform for serving corporate customers in the sinking service retail industry, which is really not easy." said by Bo Bai, Chairman and CEO of AGF. As a round C investor, AGF is very pleased to cooperate with Huitongda to promote green products, help with the growth and expansion of rural small and micro economy, promote the optimization of circulation channels in rural markets and the upgrading of retail formats. This is the best interpretation of the impact investment of AGF. We expect Huitong to play a greater role in bringing prosperity to the sinking market and serving for the common prosperity in the future.

In recent years, Huitongda's business has maintained a high growth rate. According to the prospectus, Huitong achieved revenue of RMB43.63 billion in 2019, which is increased 46.4% from RMB29.8 billion in 2018. In 2020, this figure further increased to RMB49.63 billion. From Jan. to Sep. 2021, Huitong's revenue reached RMB46.496 billion, rose 35.1% from RMB34.419 billion compared with the corresponding period of last year. From 2018 to 2020, in terms of profit, company net profit was RMB124 million, RMB250 million and RMB322 million respectively. But from Jan. to Sep. 2021, the figure even increased to RMB346 million.

In the field of business layout, by Sep. 30th, 2021, Huitong has formed a retail ecosystem covering 21 provinces and over 20,000 villages and towns, including over 160,000 membership retail stores, 10,000 suppliers and 20,000 channel partners. Commodities mainly cover six categories, namely household appliances, consumer electronics, agricultural means of production, transportation, home building materials and beverages.

According to the report of Frost & Sullivan, China's sunken retail market reached RMB15.1 trillion in 2020, which is expected to reach RMB20.6 trillion in 2025. With the company's long-term accumulated market awareness and service network, the future of Huitongda is worth looking forward to.